HB Wealth Management LLC Increases Stake in Danaher Corporation (NYSE:DHR)

Key Points

• HB Wealth Management LLC increased its stake in Danaher Corporation by 344.8% in the first quarter, holding shares valued at approximately $11.67 million.
• Danaher reported earnings of $1.80 per share, surpassing analysts' estimates, and achieved a revenue of $5.94 billion for the last quarter, up 3.4% year-over-year.
• The company declared a quarterly dividend of $0.32 per share, yielding 0.62% annually, with a dividend payout ratio of 27.23%.

HB Wealth Management LLC lifted its position in shares of Danaher Corporation (NYSE:DHR - Free Report) by 344.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,944 shares of the conglomerate's stock after purchasing an additional 44,141 shares during the quarter. HB Wealth Management LLC's holdings in Danaher were worth $11,674,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in shares of Danaher by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 13,358,206 shares of the conglomerate's stock worth $3,056,996,000 after acquiring an additional 315,446 shares in the last quarter. Bank of New York Mellon Corp raised its position in Danaher by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 8,783,485 shares of the conglomerate's stock valued at $1,800,614,000 after buying an additional 194,466 shares during the last quarter. Northern Trust Corp raised its position in Danaher by 14.3% in the 4th quarter. Northern Trust Corp now owns 7,934,991 shares of the conglomerate's stock valued at $1,821,477,000 after buying an additional 992,594 shares during the last quarter. Capital World Investors raised its position in Danaher by 32.7% in the 4th quarter. Capital World Investors now owns 6,361,183 shares of the conglomerate's stock valued at $1,460,215,000 after buying an additional 1,566,658 shares during the last quarter. Finally, Capital Research Global Investors raised its position in Danaher by 6.8% in the 4th quarter. Capital Research Global Investors now owns 5,812,728 shares of the conglomerate's stock valued at $1,334,312,000 after buying an additional 370,111 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Danaher

In related news, EVP Christopher Paul Riley sold 15,805 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $198.00, for a total value of $3,129,390.00. Following the sale, the executive vice president owned 15,179 shares in the company, valued at approximately $3,005,442. This trade represents a 51.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Steven M. Rales sold 1,250,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $196.74, for a total value of $245,925,000.00. Following the completion of the sale, the chairman owned 3,105,808 shares in the company, valued at $611,036,665.92. This trade represents a 28.70% decrease in their position. The disclosure for this sale can be found here. 11.20% of the stock is currently owned by corporate insiders.

Danaher Trading Down 1.3%

Shares of NYSE DHR traded down $2.57 during trading on Monday, reaching $202.91. The company had a trading volume of 5,160,180 shares, compared to its average volume of 3,951,987. The company's fifty day moving average price is $196.38 and its 200-day moving average price is $203.44. Danaher Corporation has a 12 month low of $171.00 and a 12 month high of $281.70. The stock has a market cap of $145.29 billion, a P/E ratio of 43.17, a PEG ratio of 2.86 and a beta of 0.77. The company has a quick ratio of 1.22, a current ratio of 1.62 and a debt-to-equity ratio of 0.32.

Danaher (NYSE:DHR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.64 by $0.16. Danaher had a return on equity of 10.70% and a net margin of 14.21%. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.83 billion. During the same period in the previous year, the business earned $1.72 EPS. The firm's revenue was up 3.4% compared to the same quarter last year. As a group, research analysts expect that Danaher Corporation will post 7.63 earnings per share for the current year.

Danaher Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, June 27th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.63%. Danaher's dividend payout ratio (DPR) is 27.23%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wall Street Zen upgraded Danaher from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Leerink Partners raised their price target on Danaher from $225.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, April 23rd. Evercore ISI decreased their price target on Danaher from $230.00 to $226.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Argus cut their price objective on Danaher from $260.00 to $240.00 in a research report on Wednesday, April 23rd. Finally, Scotiabank raised Danaher from a "sector perform" rating to a "sector outperform" rating and set a $275.00 price objective for the company in a research report on Friday, July 11th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $247.61.

Danaher Company Profile

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.